RECS vs SPY
Columbia Research Enhanced Core ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, RECS or SPY?
Nearly the same fund. SPY costs less.
SPY has a lower expense ratio. RECS led over 3Y and 5Y, SPY over 1Y and the full window. The two have moved almost in lockstep, correlation 0.96. SPY is less concentrated, with 37.8% of the fund in its ten largest positions against 41.2%.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | RECS | SPY |
|---|---|---|
| Expense Ratio | 0.15% | 0.09%Best |
| AUM | $6.0B | $804.7B |
| Dividend Yield | 1.00% | 0.98% |
| Holdings | 368 | 505 |
| YTD Return | +10.40% | +12.22%Best |
| 1Y Return | +15.95% | +16.97%Best |
| 3Y Return (annualized) | +21.68%Best | +21.16% |
| 5Y Return (annualized) | +13.62%Best | +13.00% |
| Volatility (annualized) | 16.4% | 14.9%Best |
| Max Drawdown | -34.3%Best | -56.5% |
| $10,000 over 5 years | $18,935Best | $18,424 |
| Top 10 Weight | 41.2% | 37.8%Best |
| Fund Family | Columbia Threadneedle Investments | State Street Investment Management |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Sep 25, 2019 | Jan 22, 1993 |
Volatility and max drawdown are measured over the window both funds cover: Aug 15, 2001 to Sep 17, 2026 (25.1 years).
RECS vs SPY growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 25.1 years both funds cover.
RECS vs SPY Performance
Columbia Research Enhanced Core ETF (RECS) is an ETF from Columbia Threadneedle Investments and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year RECS returned +15.95% while SPY returned +16.97%. Year to date, RECS is up 10.40% versus a gain of 12.22% for SPY.
Over three years, RECS compounded at +21.68% per year against +21.16% for SPY; over five years the annualized figures are +13.62% and +13.00% respectively. Across the full 25-year window we track, SPY has the edge at +8.03% annualized vs +3.99%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
RECS has been the more volatile fund, with annualized monthly volatility of 16.4% compared with 14.9% for SPY. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -34.3% for RECS and -56.5% for SPY. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.96. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
RECS charges 0.15% per year while SPY charges 0.09%. On a $10,000 position that is $15 vs $9 annually, a gap of $6 per year that compounds over a long holding period. On income, RECS currently yields 1.00% against 0.98% for SPY.
Holdings Overlap
86.6% of RECS's money is in holdings SPY also owns. 38.0% of SPY's money is in holdings RECS also owns.
Most of RECS is already inside SPY. Owning both mostly buys the same companies twice.
176 positions in common, counted across the 349 positions we hold weights for in RECS and 504 in SPY, against full books of 368 and 505.
What only one of them owns
Our book lists 324 positions for SPY that do not appear in our book for RECS (61.6% of the fund), and 162 for RECS that do not appear in SPY (11.7%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
Top Shared Holdings
| Stock | Weight in RECS | Weight in SPY | Difference |
|---|---|---|---|
| NVDANvidia Corp | 12.00% | 8.01% | 3.99% |
| AAPLApple, Inc | 11.74% | 7.26% | 4.48% |
| METAMeta Platforms Inc | 4.63% | 1.93% | 2.70% |
| MUMicron Technology, Inc. | 2.19% | 1.60% | 0.59% |
| MAMastercard Inc | 2.42% | 0.71% | 1.71% |
| BACBank of America Corp.: Financials | 2.03% | 0.62% | 1.41% |
| CVXChevron Corp | 1.58% | 0.60% | 0.98% |
| CSCOCisco Systems Inc. - Ordinary Shares | 1.03% | 0.66% | 0.37% |
| PLTRPalantir Technologies Inc | 1.00% | 0.63% | 0.37% |
| TJXTjx Cos Inc | 1.32% | 0.22% | 1.10% |
86.6% of RECS is already inside SPY.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, RECS or SPY?
RECS has an expense ratio of 0.15% while SPY charges 0.09%. SPY is the cheaper option, by $6 a year on a $10,000 investment.
Which performed better, RECS or SPY?
Over the past year RECS returned +15.95% vs +16.97% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (25 years), RECS annualized +3.99% vs +8.03% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, RECS or SPY?
RECS has been the more volatile fund at 16.4% annualized versus 14.9% for SPY. Worst drawdown: RECS -34.3% vs SPY -56.5%.
Should I hold both RECS and SPY?
RECS and SPY have a monthly-return correlation of 0.96, so they move almost identically. What is left to separate them is the fee and the index each one tracks. This is information, not a recommendation.
What is the holdings overlap between RECS and SPY?
86.6% of RECS's money is in holdings SPY also owns. 38.0% of SPY's is in holdings RECS also owns. They hold 176 positions in common, counted across the 349 positions we hold weights for in RECS and 504 in SPY.
Which pays a higher dividend, RECS or SPY?
RECS yields 1.00% while SPY yields 0.98%, so RECS currently pays the higher dividend yield.
Is SPY better than RECS?
SPY has a lower expense ratio. RECS led over 3Y and 5Y, SPY over 1Y and the full window. The two have moved almost in lockstep, correlation 0.96. SPY is less concentrated, with 37.8% of the fund in its ten largest positions against 41.2%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.